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December 20, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Taxi Service Loan | ||||
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We Needed a Business Loan in Puyallup, Washington and We Got One!
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Bank Loans for Taxi ServiceLooking for bank loans for taxi service? An SBA loan may be just what you've been looking for. This $26,000 taxi service loan was issued by a North Carolina bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Puyallup, Washington was able to borrow $26,000 from Bank Of America. The SBA made the loan possible by guaranteeing $13,000 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: TAXI SERVICE SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 485310 - Taxi Service Loan Approval Date 9/20/2006 Loan Approval Gross Amount $26,000 Loan Approval from the SBA Of the total $26,000 loan amount, the SBA guaranteed $13,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Best Charlotte, North Carolina Banks for Small Business
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